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California Cities in Fiscal Trouble 'Conga Line' Here comes another wave of defaults !!

 
Anonymous Coward
User ID: 24693760
United States
10/03/2012 03:56 PM
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California Cities in Fiscal Trouble 'Conga Line' Here comes another wave of defaults !!
This is gonna get ugly !

Up next could be the city of Atwater, where civic leaders will vote Wednesday night on declaring a fiscal emergency. They may even lay off a quarter of the town's 90-person workforce.

Atwater, not far from bankrupt Stockton, is reportedly facing $95 million in outstanding debt and a current deficit topping $3 million. Add those together and that's $3,500 of debt for each of Atwater's 28,000 residents, a place where the estimated median household income is around $40,000.

[link to finance.yahoo.com]
Anonymous Coward
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10/03/2012 03:58 PM
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Re: California Cities in Fiscal Trouble 'Conga Line' Here comes another wave of defaults !!
Ca needs to stop giving there shitty teachers free insurance.





GLP